{"url":"https://etfiq.com/compare/alternatives/caos-vs-pheq","section":"compare","title":"CAOS vs PHEQ: Correlation to the S&P 500 | ETFIQ","description":"CAOS and PHEQ both run hedged equity strategies. Over the year to Nov 5, 2026, CAOS had a correlation of \u22120.53 with the S&P 500 and PHEQ +0.94.","as_of":"Nov 5, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which moved less with the S&P 500, CAOS or PHEQ?","acceptedAnswer":{"@type":"Answer","text":"Over the 52 weeks to Nov 5, 2026, CAOS\u2019s weekly returns had a correlation of \u22120.53 with the S&P 500 and PHEQ\u2019s +0.94, so CAOS moved less with the index."}},{"@type":"Question","name":"Which did better when the S&P 500 fell, CAOS or PHEQ?","acceptedAnswer":{"@type":"Answer","text":"In the 20 weeks the S&P 500 fell, by 1.61% a week on average, CAOS averaged +0.12% and PHEQ \u22120.61%, so CAOS returned more in those weeks."}},{"@type":"Question","name":"Which earned more than cash, CAOS or PHEQ?","acceptedAnswer":{"@type":"Answer","text":"Over the same weeks, CAOS finished 1.6 percentage points behind cash and PHEQ finished 4.9 percentage points ahead of cash. Cash here is BIL, a fund of Treasury bills."}},{"@type":"Question","name":"Which is cheaper, CAOS or PHEQ?","acceptedAnswer":{"@type":"Answer","text":"CAOS charges 0.63% a year and PHEQ charges 0.29%, so PHEQ is cheaper. Fees come from each fund's prospectus."}}]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"Alternatives ETFs","item":"https://etfiq.com/alternatives/"},{"@type":"ListItem","position":3,"name":"Compare ETFs","item":"https://etfiq.com/compare/"},{"@type":"ListItem","position":4,"name":"CAOS vs PHEQ","item":"https://etfiq.com/compare/alternatives/caos-vs-pheq"}]},{"@type":"WebPage","name":"CAOS vs PHEQ: Correlation to the S&P 500","description":"CAOS and PHEQ both run hedged equity strategies. Over the year to Nov 5, 2026, CAOS had a correlation of \u22120.53 with the S&P 500 and PHEQ +0.94.","url":"https://etfiq.com/compare/alternatives/caos-vs-pheq","dateModified":"2026-11-05","abstract":"Over the year to Nov 5, 2026, CAOS moved less with the S&P 500 than PHEQ: correlation \u22120.53 against +0.94.","publisher":{"@id":"https://etfiq.com/#org"},"isPartOf":{"@id":"https://etfiq.com/#website"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".verdict",".faq"]}},{"@type":"Dataset","name":"ETFIQ comparison of CAOS and PHEQ","description":"CAOS and PHEQ both run hedged equity strategies. Over the year to Nov 5, 2026, CAOS had a correlation of \u22120.53 with the S&P 500 and PHEQ +0.94.","dateModified":"2026-11-05","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/alternatives/caos-vs-pheq","license":"https://etfiq.com/license/","publisher":{"@id":"https://etfiq.com/#org"},"inLanguage":"en","creativeWorkStatus":"Published","distribution":[{"@type":"DataDownload","encodingFormat":"application/json","contentUrl":"https://etfiq.com/data/alternatives.json"}],"variableMeasured":["Correlation with the S&P 500","Beta to the S&P 500","Down-week capture","Average week when the S&P 500 fell","Return against T-bills","Total return","Strategy","Expense ratio"],"keywords":["exchange-traded funds","ETF","Alternatives ETFs","fund data","SEC filings"]}],"characters":6934,"truncated":true,"content":"ETFIQ / Alternatives ETFs / Compare ETFs / CAOS vs PHEQ \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Nov 5, 2026 .\n\n CAOS vs PHEQ: Correlation to the S&P 500\n\n Over the year to Nov 5, 2026, CAOS moved less with the S&P 500 than PHEQ: correlation \u22120.53 against +0.94.\n Copy this for sharing \n \n PHEQ costs 0.34 points a year less; their one-year returns differ by 5.9 points.\n CAOS and PHEQ at a glance. As of Nov 5, 2026. Source: ETFIQ. CAOS PHEQ \n Expense ratio 0.63% 0.29% \n Net assets, CAOS as of Nov 4, 2026 and PHEQ as of Jun 30, 2026 $747m $140m \n Total return, 1 year +2.2% +8.1% \n H","source":"ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.","publisher":{"@id":"https://etfiq.com/#org","name":"ETFIQ","url":"https://etfiq.com"},"license":"https://etfiq.com/license/","license_text":"Data ETFIQ computes is free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.","citation":"ETFIQ, CAOS against PHEQ, data as of Nov 5, 2026. https://etfiq.com/compare/alternatives/caos-vs-pheq","a":{"ticker":"CAOS","name":"Alpha Architect Tail Risk ETF","issuer":"Alpha Architect","desk":"alternatives","as_of":"2026-11-05","verdict":"Over the year to Nov 5, 2026, CAOS returned 2.2%. When the S&P 500 fell, it rose 0.12% a week.","url":"https://etfiq.com/funds/caos","key_facts":[{"label":"Correlation with the S&P 500","value":"\u22120.53","as_of":"2026-11-05","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Beta to the S&P 500","value":"\u22120.05","as_of":"2026-11-05","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Down-week capture","value":"\u22127.7%","as_of":"2026-11-05","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Against T-bills, 52 weeks","value":"\u22121.6 pts","as_of":"2026-11-05","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Net assets","value":"$747m","as_of":"2026-11-04","source":"issuer page, as of Nov 4, 2026"},{"label":"Expense ratio","value":"0.63%","as_of":"2026-01-28","source":"485BPOS XBRL, Jan 28, 2026"}]},"b":{"ticker":"PHEQ","name":"Parametric Hedged Equity ETF","issuer":"Parametric","desk":"alternatives","as_of":"2026-11-05","verdict":"Over the year to Nov 5, 2026, PHEQ returned 8.1%, against 9.5% for VOO.","url":"https://etfiq.com/funds/pheq","key_facts":[{"label":"Correlation with the S&P 500","value":"+0.94","as_of":"2026-11-05","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Beta to the S&P 500","value":"+0.45","as_of":"2026-11-05","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Down-week capture","value":"37.7%","as_of":"2026-11-05","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Against T-bills, 52 weeks","value":"+4.9 pts","as_of":"2026-11-05","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"12-month yield, special payments left out, on its starting price","value":"0.4%","as_of":"2026-11-05","source":"computed by ETFIQ from Tiingo daily prices and distributions"},{"label":"12-month cash paid, including specials, on its starting price","value":"0.9%","as_of":"2026-11-05","source":null},{"label":"Last payment (paid quarterly), ex-date Sep 21, 2026","value":"$0.0486","as_of":"2026-09-21","source":"Tiingo end-of-day distributions"},{"label":"Net assets","value":"$140m","as_of":"2026-06-30","source":"SEC N-PORT, whole fund, as filed for Jun 30, 2026"},{"label":"Expense ratio","value":"0.29%","as_of":"2026-01-28","source":"485BPOS XBRL, Jan 28, 2026"}]},"overlap_pct":null,"overlap_note":"ETFIQ does not publish a holdings overlap for this pair. Either the funds are not compared on holdings, or one book is incomplete.","full_text_at":"https://etfiq.com/compare/alternatives/caos-vs-pheq"}